FOX Business reporter Eleanor Terrett wrote on X: "XRP's market value has just surpassed USDT to become the third largest cryptocurrency by market value, returning to the level before the SEC/Ripple lawsuit.
Before Hinman's speech in June 2018, the SEC once regarded BTC and ETH as non-securities on the grounds of "sufficient decentralization", and XRP was actually the second largest cryptocurrency by market value after ETH at the time. After the speech, Ethereum's market value surpassed XRP in November 2018.
The so-called "Hinman email" found in the Ripple case shows that some officials within the SEC disagreed with the content of the speech and worried that the speech might affect the regulatory status of other cryptocurrencies.
Six years later, the regulatory status is still unclear."